28 Jun 2013

No immediate change to Swan budget: Bowen

12:54 pm on 28 June 2013

Australian Treasurer Chris Bowen says the Rudd government stands by the budget delivered by previous Treasurer Wayne Swan in May.

"That remains the government's budget; those forecasts remain the government's forecasts," he told the Nine Network on Friday.

Mr Bowen, who his receiving Treasury briefings and going through the state of the economy, said he could not rule out any changes to policies in the future.

"But the budget's out there, it remains the government's budget and we stand by it."

AAP reports Mr Bowen praised Mr Swan, who was voted the world's best treasurer during his tenure and helped steer Australia through the global financial crisis.

"I will be looking to build on that legacy."

But he said he would have his own approach to the job.

"I'll certainly be looking to work closely with business, to ensure that we continue to grow very strongly as an economy."

He identified the "significant" transition in the mining industry from investing in mines to production as a challenge.

"That means big changes to the economy, big impacts, which we will need to work through with business, unions all working together with the same goal," he said.